Current:Home > MyCalifornia is home to the most expensive housing markets in the US: See a nationwide breakdown -TrueNorth Finance Path
California is home to the most expensive housing markets in the US: See a nationwide breakdown
View
Date:2025-04-15 01:07:07
California is one of the largest and most populous states in the U.S. – it's also one of the most expensive places to live. According to data from the Census Bureau's American Communities Survey, the median monthly mortgage cost in California is $2,673. It's not just housing that adds up – health care, taxes, food and transportation all contribute to California's growing cost of living.
California has one of the most pricey housing markets in country
Last year, the California Community Poll found that 4 in 10 Californians were considering moving out of state, with the majority saying it’s too expensive to live there. Although the poll found a majority of Californians love living in the state, increasing costs of living is the main driver for people moving.
About 64% of counties in the Golden State having median homes values above the national median of $389,800. Four of the top five most expensive U.S. counties by median housing price were located in California.
County level data of housing statistics from the the American Community Survey shows how much homes are valued at across California.
Outside of California, Massachusetts rounds out the top five counties with the highest median home prices:
- Santa Clara County, CA: $1,583,130
- San Mateo County, CA: $1,573,470
- Marin County, CA: $1,454,450
- San Francisco County, CA: $1,332,660
- Nantucket County, MA: $1,313,450
Logan Mohtashami, lead analyst for HousingWire, a trade publication for mortgage, real estate, and housing professionals told USA TODAY that California has been ineffective in lowering the cost of living because not enough homes are being built. That means there is more demand for homes than supply.
Mohtashami called the housing market unhealthy, " We still have too many people chasing too few homes” he said. “California is going to be a tug of war. Can they keep enough people here? Or do more people just keep moving away?”
Cost of living:Nearly half of California residents are considering leaving the state, a poll finds.
California to Texas:A move from California to Texas could save a million dollars. Many Americans are opting in
See how much homes are valued in your county
For the roughly two-thirds of Americans who do own homes, location is a major determinate of their home's value. Home ownership is a major financial asset to many households and knowing the worth of a home can help families decide to buy or sell.
See the median value of homes in each U.S. county:
How was the data collected?
The National Association of Realtors analyzed data from the Census Bureau's American Community Survey of median housing prices for 3,112 counties and county equivalents across the U.S. Home values reflect the overall worth of all homes in a given area rather than solely home sales data, according to the association.
The median home value by county is a less biased statistic than the mean or average price. Median is not as heavily influenced by a small number of highly priced homes and is a more accurate representation of housing prices across the U.S.
Itzel Luna contributed to this reporting
veryGood! (498)
Related
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Jessica Simpson Sets the Record Straight on Whether She Uses Ozempic
- How ending affirmative action changed California
- Is the debt deal changing student loan repayment? Here's what you need to know
- Krispy Kreme offers a free dozen Grinch green doughnuts: When to get the deal
- For Many, the Global Warming Confab That Rose in the Egyptian Desert Was a Mirage
- Sony and Marvel and the Amazing Spider-Man Films Rights Saga
- The Colorado River Compact Turns 100 Years Old. Is It Still Working?
- Questlove charts 50 years of SNL musical hits (and misses)
- Western Forests, Snowpack and Wildfires Appear Trapped in a Vicious Climate Cycle
Ranking
- Woman dies after Singapore family of 3 gets into accident in Taiwan
- Eva Mendes Shares Rare Insight Into Her and Ryan Gosling's Kids' “Summer of Boredom”
- Dream Kardashian and True Thompson Prove They're Totally In Sync
- Yellen sets new deadline for Congress to raise the debt ceiling: June 5
- B.A. Parker is learning the banjo
- Leading experts warn of a risk of extinction from AI
- YouTubers Shane Dawson and Ryland Adams Expecting Twins Via Surrogate
- The Art at COP27 Offered Opportunities to Move Beyond ‘Empty Words’
Recommendation
Buckingham Palace staff under investigation for 'bar brawl'
It’s Showtime! Here’s the First Look at Jenna Ortega’s Beetlejuice 2 Character
In Florida, DeSantis May End the Battle Over Rooftop Solar With a Pen Stroke
One mom takes on YouTube over deadly social media blackout challenge
Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
New Documents Unveiled in Congressional Hearings Show Oil Companies Are Slow-Rolling and Overselling Climate Initiatives, Democrats Say
Kim Zolciak and Kroy Biermann Call Off Divorce 2 Months After Filing
John Mayer Cryptically Shared “Please Be Kind” Message Ahead of Taylor Swift Speak Now Release